Our Money Master this week is Grayson Bell from Debt Roundup and Sprout Wealth. Very similar to us, Grayson found himself with $50,000 worth of debt, mostly credit cards, and eventually decided to change course. He now uses his experience to help others fight debt and grow wealth.
Grayson has a very robust website with a number of contributors who tackle how to get started fighting debt, how to grow wealth and strategic ways to use credit cards.
One of our recent, favorite posts is “25 Awesome Tools and Sites to Save You Money”. We love these kinds of posts because they help build an arsenal of tools to more efficiently manage money. One can’t have too many tools and, in our current economy, every tool is valuable.
1. What’s your story?
My story is simple, yet complex. I am a serial entrepreneur who has built and shrouded a few businesses in the last ten years. I built one in college which started selling over $1 million in product annually. It was awesome for a one-man show, but it was also stressful. I funded this business with a credit card all the while spending my cash on stuff I never needed. I wanted to have an image, but it cost me a lot of money. After four years in my business, I burnt out and decided to sell pieces of it. All said and done, I had over $50,000 in credit card debt and about $15,000 in loans. It took me four years to pay it all off through cutting expenses and learning how to make more money on the side.
I started my blog a month after my last credit card payment went through. It was two years ago and I brought it online to help other people who were going through the same story.
2. What’s your point of view, as a personal finance blogger?
My view has morphed over the years and now my motto is “Fight Debt and Grow Wealth.” The reason for this is because I realized showing people how to pay down debt is only one side of the equation. In order to grow wealth, you need to learn how to earn more, save more, and invest more. That is the goal now. I co-founded another blog, Sprout Wealth, just to show people how to make more money. I believe everyone is different with regards to their finances, so it can be hard to show a one-size fits all approach. I share different aspects of personal finance to make sure anyone looking for information can find it.
3. In one sentence, what’s one piece of sage advice from your personal finance background that you’d like to share with our readers?
You will never be able to make any financial change until you take action, so plan and then execute those plans.
Do yourself a favor and check out Debt Roundup, sign up for Grayson’s newsletter or add his blog to your RSS feed. Trust us; you will be happy you did.